Insurance Analytics IA+ is out-of-box “Management Reporting solution” which covers complete spectrum of insurance business such as Sales & distribution, Marketing, Claims, Operation, Underwriting, Finance, Re-insurance and Actuarial. Insurance Analytics IA+ offers vast repository of KPI’s and metrics for various roles and responsibilities – running into several hundreds. The solution come with pre-built dashboard and management reports for all department heads. This role-based analytics application is designed to help middle and senior management of Insurance companies across departments to take corrective actions, decisions based on trends and evaluate performance periodically.
Key benefits to Management
1. Enhance the effectiveness of middle & Senior management in improving financial results & driving value for the Organization through effective use of Analytics
2. Shorten the time to react to market in the competitive business environment
3. Improved decision making – which new product to bring to market, which policy to stop writing, which product is profitable at policy level or claim level etc
4. Higher internal & external Customers Satisfaction by understanding customer’s needs and responding them faster with right product and solutions
5. Reduce customer acquisition cost – single customer view across the organization for up-sale & cross-sale
Key benefits to IT
1. Reduce Operational cost – as Management reports & Analysis gets automated, Full time Equivalent (FTE’s) can be deployed for other function
2. Centralized repository (data warehouse) to access all kind of information required by the business users any time
3. Customized solutions with pre defined KPI’s & metrics to address the business needs
4. Application to Go-Live in just 3-4 months – considerable cost benefits resulting from saving in time & effort
5. Risk-Free implementation – What you see, you get. The management dashboards, reports & data model are pre-built for each and every department as per the roles and responsibilities.